Morgan Stanley raised the firm’s price target on SanDisk (SNDK) to $263 from $230 and keeps an Overweight rating on the shares. Sandisk delivered significant upside versus high expectations and guided EPS 75% above consensus, which “seems conservative,” the analyst tells investors. The strength in datacenter that’s driving the upside “seems durable” and this “feels like an upcycle still in early innings” with limited supply growth, the analyst added.
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